Let to Network Rail Infrastructure Limited (1) with 155 years remaining (no breaks)
Annual upward only RPI linked rental increases
Close to the town centre with nearby occupiers include Police Scotland, North Ayrshire Council, The Job Centre
Saltcoats forms part of busy Scotrail station on the Ayrshire Line
VAT Free investment
Currently producing £18,475 p.a.x.
Lot 6
Auction 11th February 2021
Rent £18,475 per Annum Exclusive
Status Sold
Price £642,000
Sector Ground Rent
Auction Venue Live Streamed Auction
Property Information
Location
Miles
31 miles south of Glasgow
21 miles north of Ayr
15 miles west of Kilmarnock
Roads
A78
Rail
Saltcoats Station (Scotrail)
Air
Glasgow Prestwick International Airport
(15 miles south),
Glasgow International Airport (22 miles north)
Situation
Saltcoats is a popular coastal town with a population of approximately 11,000 people.
The ground rent sites are located at the railway station and is accessed from Vernon Street to the south and Glencairn Street to the north. The railway station is situated at the junction of Vernon Street and Countess Street within the town centre. Nearby occupiers include Police Scotland, North Ayrshire Council and the Job Centre. Retail occupiers include Semichem and Euronics.
Saltcoats Railway station forms part of the Ayrshire Coast Line linking Glasgow in the north with Stranraer in the south.
Tenure
Heritable.
Location
Miles
31 miles south of Glasgow
21 miles north of Ayr
15 miles west of Kilmarnock
Roads
A78
Rail
Saltcoats Station (Scotrail)
Air
Glasgow Prestwick International Airport
(15 miles south),
Glasgow International Airport (22 miles north)
Situation
Saltcoats is a popular coastal town with a population of approximately 11,000 people.
The ground rent sites are located at the railway station and is accessed from Vernon Street to the south and Glencairn Street to the north. The railway station is situated at the junction of Vernon Street and Countess Street within the town centre. Nearby occupiers include Police Scotland, North Ayrshire Council and the Job Centre. Retail occupiers include Semichem and Euronics.
Saltcoats Railway station forms part of the Ayrshire Coast Line linking Glasgow in the north with Stranraer in the south.
Tenure
Heritable.
Description
The property comprises plots of land forming part of the railway station.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises plots of land forming part of the railway station.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Address
Tenant
Term
Rent p.a.x
Review
Plots of land at Saltcoats station
Network Rail Infrastructure Limited (2)
175 years from 11/11/2001 to 10/11/2176 (1)
£18,475
2021 and yearly thereafter. Upwards only linked to RPI
Total
£18,475
(1) For the year to 31/03/2020 Network Rail Infrastructure Limited reported a turnover of £8,099,000,000, a pre tax profit of £368,000,000 and a new worth of £9,455,000,000. (2) Under the terms of the lease, the tenant has a pre-emption right to purchase this property. This comes into effect immediately following the auction. It means that once a price is agreed at auction, the tenant, Network Rail must be given the opportunity to buy the property for the same price. They have 21 days to accept or refuse the offer where Network Rail take up their option the seller will contribute to the bidders legal costs. Please see the legal pack for further information.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
